Looking For The Best Streaming Stocks Now? 3 Names To Know
Incredibly, streaming stocks are amongst the top players on the stock market now. There is a pretty obvious reason for this. As you would know, the coronavirus pandemic has changed the way we live our lives. That includes how we entertain ourselves. When the pandemic struck, gone were the days of in-person entertainment. Concerts, sports matches, cinemas, and countless other means of live entertainment were either massively affected or entirely halted. For some, attending one of these events became a matter of life and death, let alone enjoyment. As a result, a vacuum was formed in the entertainment industry and top streaming stocks enthusiastically filled it.
Evidently, both investors and companies alike became aware of this trend. On one hand, existing top streaming stocks like Spotify (SPOT Stock Report) saw their best years on the stock market by far. On the other, you have the likes of epicenter stock Disney (DIS Stock Report) shifting its focus to the trending industry. It is an understatement to say that the company’s Disney+ platform has been paramount in supporting the company financially. Like it or not, the streaming industry has brought huge gains for whoever has the means to dive into it so far.
However, news broke of the U.S. FDA endorsing Moderna’s (MRNA Stock Report) vaccine for emergency use. Upon hearing this news you and other investors alike would likely have the same question. Will these top streaming stocks to buy continue to thrive in a post-pandemic world? Following that, there would also be concerns about long-term user retention, and so on. Well, it may be too early to say for sure. But one thing is clear, the following streaming stocks on this list have been making moves lately. Let us take a closer look at them.
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Top Streaming Stocks To Consider For Your 2021 Watchlist: FuboTV Inc
Our first entry on this list is FuboTV (FUBO Stock Report). For the uninitiated, FuboTV is a New-York based live-sports streaming company. Its proprietary streaming platform boasts wide coverage of major sports leagues based in the U.S. and internationally. FuboTV allows for streaming on smart TVs, mobile phones, tablets, and the web. FUBO stocks jumped by 12% on Wednesday. Investors clearly seemed excited about the stock.
Recently, FuboTV announced a huge collaboration with Chinese electronic manufacturer Hisense. FuboTV was officially launched on Hisense Smart TVs to be sold at Walmart (WMT Stock Report) locations across the U.S. The deal gives consumers instant access to live sports and entertainment through a dedicated button on the Hisense remote control. This is a phenomenal move by the company. This is because Hisense is a major player in the smart-TV market globally. Its products are exported to over 160 countries which bodes extremely well for FuboTV. The sheer exposure this integration provides opens up a whole new world of potential customers for the company. Considering that this is just in time for the holiday season, investors’ excitement around the company is not unwarranted.
On top of that, the company reported its recent quarter fiscal in November and it appears to be thriving. FuboTV saw its strongest quarter to date with a 47% year-over-year increase in revenue. In addition, it recorded jumps of 58% in paid subscribers and 83% for total content hours streamed in the same period. Could all this be the beginning of a bountiful 2021 for FUBO stock? You tell me.
Top Streaming Stocks To Consider For Your 2021 Watchlist: Netflix Inc
After that, we have streaming titan Netflix (NFLX Stock Report). It is pretty hard to talk about the streaming industry without hearing this name. The Netflix platform is home to a plethora of series, and blockbuster movies from major IPs. These kept many viewers company as they are staying home amidst coronavirus lockdowns. In fact, Netflix’s share prices are up by over 70% since the stock market crashed in March. With all the latest vaccine developments, investors may be wondering what Netflix has planned for the future.
Just yesterday, the company named Strive Masiyiwa as a new member of its board of directors. Masiyiwa is the founder of Econet, one of Africa’s largest telecom players. Netflix co-CEO Reed Hastings said, “His entrepreneurship and vision in building businesses across Africa and beyond will bring valuable insights and experience to our board as we work to improve and serve more members all around the world.” This is in line with the company’s focus on telling original African stories on its platform earlier this year. Masiyiwa’s experience in the market could prove to be a valuable asset for Netflix. Especially with Africa’s expanding TV market.
In its recent quarter fiscal posted in October, the company reported adding 2.2 million net members over the quarter. It also ended the quarter with $8.39 billion in cash on hand. Investors may be wondering if the company can leverage its current position to solidify its long-term growth. Your guess is as good as mine on this. Given all this, will you be adding NFLX stock to your 2021 watchlist?
Top Streaming Stocks To Consider For Your 2021 Watchlist: Roku Inc
Last but not least, we have Roku (ROKU Stock Report). Roku has definitely been on investors’ radars this year. Rightfully so, as the company’s share prices have soared by over 130% year-to-date. The manufacturer of digital media players (DMP) has provided a lot of consumers with video streaming hardware this year. On top of that, it also has a streaming platform that has been pulling steady numbers at the same time. ROKU stocks appear to be on a steady rally as it has soared by about 20% in December alone to reach $331.44 a share as of 2:35 p.m. ET. Investors may be wondering if it can keep this up.
On December 16, it was announced that AT&T’s (T Stock Report) HBO Max will finally be coming to Roku. Roku users will be able to install the HBO Max application on their Roku devices. This is an amazing deal for Roku in particular as HBO Max has a total of 57 million subscribers worldwide. Existing HBO Max subscribers will now have Roku’s hardware as a possible upgrade for their streaming setups. This is a strategic play by the company as it comes just ahead of the incoming holiday seasons. Clearly, it is an interesting time for the company and investors appear to think so as well.
Besides, the company has had an outstanding performance in its recent quarter fiscal. In it, Roku saw a 73% leap in total revenue year-over-year. The company’s streaming platform did spectacularly well as it saw a 78% rise in revenue over the same period. It seems to me that Roku is kicking into full gear and has no plans of slowing anytime soon. Would you say the same about ROKU stock?